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In this tutorial, attorney Brian Russ explains the concept of a Memorandum of Understanding (MOU). He describes it as generally a non-binding agreement that outlines the intent of parties to discuss collaboration or related matters. However, he cautions that labeling a document as an MOU does not guarantee it is non-binding. If the document contains the essential elements of a contract—mutual assent, offer, acceptance, consideration, and capacity—it may still be considered a binding contract. Russ recommends careful consideration of the document's content rather than its title when assessing its legal implications.
